January 18, 2011 Ngamiland IOCG Complex Age Dating Workshop
TORONTO, CANADA - Tsodilo Resources Limited (TSX Venture Exchange: TSD) ("Tsodilo" or the "Company") is pleased to announce the results of the first age-dating done by modern geochronological techniques in Ngamiland which has a main bearing on the mineralization model of the area, and the scheduling of a workshop on the geological model with the technical staff at AEON (UCT) in Cape Town on February 9, 2011.
Recent dating by AEON's research group at UCT highlights the presence in Ngamiland of Archean granite-gneisses (ca. 2550 Ma), intruded by Paleoproterozoic granites (ca. 2000 Ma), which have been tectonically interlayered with Pan-African meta-sediments (including graphitic schist, carbonates, diamictites and metabasalts (ca. 540 Ma). The tectonic contacts and graphitic schists are mineralized and have been targeted for further work. This is the first time Archean-Paleoproterozoic basement rocks have been discovered in this NW part of Botswana. The 2 billion year old granites can be correlated with either the nearby Quangwadum and Okwa Complex in Botswana, and with the granites of the Bushveld intrusion in South Africa, suggesting the possibility of a large cryptic mineralized mafic intrusion in the region, or with the Kibaran granitic basement (ca. 2050 Ma) to the Katangan Supergroup beneath the Lufilian Arc in the DRC. The Pan African metabasalt in Nagamiland yield an age of ca. 535 Ma. This is younger than the metabasalts of the Matchless Amphibolite Belt (MAB) and Katanga (ca. 765 Ma), but similar to the age of peak metamorphism and deformation in the MAB and Lufilian Arc (ca. 530 Ma). This difference can be accounted for through the higher degrees of Pan African deformation and metamorphism found in Ngamiland (e.g. the new age is a tectonically reset age rather than a magmatic age) and/or that the metabasalts of Ngamiland represent subducted basaltic MAB-like oceanic crust that has been recycled as island arc basalts. Either way, the new dates strengthen the previous suggestions by Tsodilo of a correlation between the mineralized Pan African rocks and basement in Ngamiland with those in the Central African Copper Belt, and those in the MAB. Work with AEON is ongoing to refine the geological models.
The presence of the layered and massive magnetite units associated with the Xaudum Magnetic Anomaly in the northern part of the area and the copper and gold showings east of the banded magnetite associated with meta-basic rocks (epidote-scapolite-albite amphibolite) on the central part of the area indicates that the mineralization model of Ngamiland is highly likely associated with an Iron Oxide Copper Gold ore deposit (IOCG), also referred to as the Ngamiland IOCG.
The Company will conduct a workshop on February 9, 2011 from 3 -- 5:00 PM entitled The Geological and Mineralization of the Ngamiland Metals Project at the AEON center at the University of Cape Town. To date, Base and Precious Metals, Rare Earth Element Minerals (REE), Radioactive Minerals, and Platinum Group Metals (PGM's) have all been identified in this new metals province. The workshop is open to the public and will be held during the week that the Mining Indaba is held in Cape Town, South Africa. The Mining Indaba attracts mining analysts, fund managers, investment specialists and financiers from around the world and sets a perfect background for the workshop. AEON is located at Building 32, Ring Road, University of Cape Town, Upper Campus, Rondebosch, Cape Town. Directions to the AEON facility can be found at http://www.aeon.uct.ac.za/content/pdf/directions.pdf. Interested parties can contact the Company at info@TsodiloResources.com for further information.
AEON (Africa Earth Observatory Network) under the direction of Dr. Maarten de Wit is a center of Earth-systems science that provides a research and educational environment for consilience between earth and life sciences, engineering, resource economics and the human sciences. AEON is developing earth stewardship as a science and cultivates cutting-edge globally competitive research and analytical learning, using advanced tools and techniques to promote an interdisciplinary view of our Earth and society, particularly in Africa. The AEON science advisory group comprises 18 members spread across four continents, five South African universities, and from industry.
About Tsodilo Resources Limited: Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic kimberlites and metal deposits at its Newdico (Pty) Limited ("Newdico") and Gcwihaba Resources (Pty) Limited ("Gcwihaba") projects in northwest Botswana. The Company has an 96% stake in Newdico (3,940 km² under Precious Stone - diamond licenses) while Trans Hex Group, a South African diamond mining and marketing company, holds the remaining 4%. The Gcwihaba project area (5,870 km² under Precious Stone - diamond licenses; 12,810 km² Metal (base, precious, platinum group, and rare earth) licenses; and, 1,430 km² under Radioactive Minerals licenses) is 100% held by the Company. Tsodilo manages the exploration of both the Newdico and Gcwihaba license areas. Overall supervision of the Company's exploration program is the responsibility of Dr. Mike de Wit, President and COO of the Company and a "qualified person" as such term is defined in National Instrument 43-101. Dr. de Wit has reviewed the information contained herein and approved the contents of this Press Release.
The Company has offices in Toronto, Canada and Gaborone and Maun, Botswana. Please visit the Company's website, www.TsodiloResources.com, for additional information and background on our projects.
National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Form 43-101F1 and Companion Policy 43-101CP requires that the following disclosure be made: All references contained herein with respect to the potential quantity and grade derived by any method is at this stage of development conceptual in nature. At the present time, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the development of the Company's projects) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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